The Burj al Arab. The Jumeirah Beach Hotel. The palm island’s Atlantis. All unmistakably Dubai, the Persian Gulf emirate that turned itself into a luxury tourist destination.
Now Dubai is doubling down by building hotels at the fastest pace of any city, putting pressure on occupancy and rates that are among the highest in the world. The 14,385 rooms under construction will increase supply by about a fifth, according to industry researcher STR Global, and thousands more are planned.